Assignment 1 Financial

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Assignment 1 - Vincent Clark (24 points) Assignment 1: Economic Basics Instructions Save this file in your course folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson's assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress. Review Lesson 4 of the Course Overview for instructions about turning in your assignments. Assignment Questions 1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. Create a budget and save and invest money .Saving money is important to me because when I don’t have the money to do what I need to do that is a need I can always go to my savings account and pull out what is needed . Budgeting is collecting don’t spend unnecessary money. 2. List two examples of goods you have purchased in the past or may purchase in the future. I have bought an iPhone 6 and a pair of shoes. 3. List two examples of services you have purchased in the past or may purchase in the future. I have been to a Dentist and a Car Wash. 4. One of the functions of money is as a store of value. How does inflation affect money's ability to store value? Inflation can decrease the value of money over time. Inflation is when the value of money goes down, so that you can't get as much for your money as you could in the past. If inflation is increasing, which means the value of money is going down, it may make more sense to invest the money in investments that are likely to increase in value. 5. Imagine that you are considering moving to a new

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